Wealth management is one of the areas in which banks and other personal financial services players are investing heavily. But the market is changing fast. Going forward, players therefore need to adapt their strategies to the new realities: what worked in the past will not, for the most part, be appropriate in the future. This unique book, written by a former McKinsey consultant, offers an up-to-date, detailed, practical understanding of this exciting area of financial services.
About the Author
DAVID MAUDE is an independent consultant. A former consultant at McKinsey & Company, he serves financial institutions around the world, advising on their key strategic, organisational and operational issues. He has also worked in strategy for Barclays, and spent six years as a senior economist at the Bank of England and HM Treasury. He co-authored the pioneering Euromoney book, Private Banking: Maximising Performance in a Competitive Market, published in 1996. He may be contacted at firstname.lastname@example.org.
Table of Contents
1. Global Market Overview.
1.1 The wealth management market.
1.2 Key drivers.
1.3 Industry economics.
1.4 Competitive landscape.
2. Industry Challenges: New and Old.
2.2 Products, pricing and channels.
2.3 Competitors and business models.
2.4 External environment.
3.1 Key characteristics.
3.2 Client segmentation.
3.3 Client value management.
4. New Products and Pricing.
4.1 New products and services.
4.2 Product sourcing and management.
5. Distribution Channels.
5.1 Relationship managers.
5.2 Other traditional channels.
5.3 New and emerging channels.
5.4 Multichannel management.
6.1 Types of players.
6.2 Business system upheaval.
7. Operational Excellence.
7.1 Smart operational sourcing.
7.2 Lean operations.
7.3 Technology transformation.
7.4 Value-added support services.
7.5 Instilling operational excellence.
8. Organisational Design.
8.1 Organisational structure.
8.2 Business unit interfaces.
8.3 International dimension.
9. Regulatory and Tax Issues.
9.1 Money laundering vulnerability.
9.2 Regulatory initiatives.
9.3 Tax initiatives.
10. The Future.
10.2 Sources of new profitable growth.
10.3 Future industry structure.
10.4 Critical success factors.
Appendix 1: Country wealth market analyses.
Appendix 2: FATF 40 recommendations.
Appendix 3: FATF special recommendations on terroristfinancing.
Appendix 4: The Wolfsberg anti-money-laundering principles.
Glossary of Terms.